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$DPS said the recent hurricanes and earthquakes in the US and Mexico are estimated to have decreased volume and net sales by about 0.5% and core income from operations by about 2% in 3Q17. The resulting decrease in core (non-GAAP) EPS was $0.02 per share during this period.
$DPS reported 4% rise in net sales to $1.74Bil in 3Q17. However, net income fell over 15% to $203MM, or $1.11 per share during the quarter. The company, which makes a slew of soft drinks including 7 Up, blamed hurricanes and inventory write offs for the earnings decline. Excluding all special items, $DPS earned $1.10 per share during the quarter.
Soft drinks-maker $DPS posted 27% decline in net income to $188MM, or $1.02 per share in 2Q17. Excluding certain one-time costs and debt extinguishment, EPS was $1.25. The company, which had recently acquired Bai Brands, said its net sales increased 6% in the quarter to $1.8Bil, on a 4% growth in sales volumes.
$DPS announced an amendment to the previously announced cash tender offers for its outstanding 7.45% Notes due 2038 and 6.82% Notes due 2018, to increase the maximum aggregate purchase price related to the Notes from $180MM to $250MM. All the other terms of the offers as previously announced remain unchanged.
$DPS intends to offer, subject to market and other conditions, $400MM in aggregate principal amount of senior notes. DPS intends to use the net proceeds from the offering to fund the purchase of its outstanding 7.45% Notes due 2038 and 6.82% Notes due 2018.
$DPS stated that on the international strategy, it has just started in the UK. The company added that it has got a team looking across different countries as each country has a different regulation. $DPS has sent its second container to see how it sells, the take rate, trial and repeat, which would give some info to talk about to a contract packer.